The global virtual event platform market is anticipated to grow at a CAGR of around 12% during the forecast period (2023-2029). The significant rise in funding for the expansion of virtual event platforms by major players is the key factor driving the market growth. Major virtual event platforms such as Hopin, TouchCast, Samaaro, Hubilo, Virtual experience company, Brella, among others are raising funds for the market development. For instance, in February 2021, TouchCast, a New York Video Startup that develops a platform aimed at companies to produce lifelike, virtual conferences, and other events has raised funding $55 million. Similarly in June 2021, Virtual event platform Samaaro has raised $125K in angle round. The funding will be used by the company to scale its product, expand the team, and reach global markets. On the other hand, in February 2020, London-based Virtual Events platform Hopin raised $565 million in series C funding. Hopin used the funding amount to accelerate growth, scale operations, and strengthen the team and virtual event platform to address the demands of its expanding customer base and support its multi-product business. Moreover, in December 2020, Bizzabo had raised $138 million for the virtual event platform. Considering this funding by the top platforms, considerable growth can be expected in the global virtual event platforms market during the forecast period.
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Moreover, the key players operating in the market are introducing new virtual event platforms to the market which in turn, driving the market growth. For instance, in May 2021, Zoom has launched Zoom Events Platform for virtual experiences. Zoom Events will enable businesses to host and monetize both small and large events like sales summits and user conferences, aimed at recreating the in-person experience. Furthermore, in July Hubilo Technologies Inc., has introduced its next-generation hybrid event platform, built for engagement and event excellence. On the other hand, in September 2020, Aventri expanded its product offerings by launching the Aventri Virtual Event Platform along with the release of key industry-leading features. These product launches by key players will aid in market growth.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Component
- By Organization Size
- By End-User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- 6Connex Inc., Cisco Systems, Inc., Cvent Inc., Hopin, Hubilo Softech Private Ltd., Microsoft Corp., Samaaro, Zoom Video Communications, Inc., among others.
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Virtual Event Platform Market Report Segment
By Component
- Platform
- Services
- Training and Consulting
- Support and Maintenance
- Deployment and Integration
By Organization size
- Large enterprises
- Medium-size enterprises
- Small enterprises
By End-User
- Non Profit
- Government
- Education
- Healthcare and Lifesciences
- Third Party Planner
- Associations
- Corporations
Virtual Event Platform Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- 6Connex Inc (US)
- Accelevents (US)
- Airmeet (India)
- Aventri, Inc.
- com, LLC,
- Bizzabo Inc.
- Brella Oy, Inc
- Cisco Systems, Inc.
- Cvent Inc.
- Eventcube Solutions Ltd
- EventMobi (Canada)
- HeySummit (UK)
- Hopin (UK),
- Hubilo Softech Private Ltd
- Intrado Corp
- Livestorm Inc
- Microsoft Corp (US)
- On24(US)
- Orbits Intergalactic Pty Ltd
- Pathable, Inc.
- PheedLoop Inc
- Run the World (US)
- Samaaro (India),
- Socio Labs LLC
- Splash (US),
- SpotMe SA
- Vconfex (India),
- vFairs LLC
- Zoom Video Communications, Inc.
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